Shibarium Txns Fall 85% in 24h After Network Upgrades, Metrics Likely Distorted
Shibarium daily transactions on Shiba Inu fell 85% in 24 hours, dropping to about 1,580 from 10,940 (after a brief surge above 10,000). Traders should note the move is likely driven by Shibarium infrastructure upgrades—server migration, full chain re-indexing, and rebuilding Shibariumscan—rather than a real collapse in usage.
Because of these Shibarium changes, explorer-side metrics (transaction counts, wallet activity, and total blocks) may not match on-chain reality. The article also highlights that many activity spikes look bot-driven smart contract calls, including transactions labeled “Value 0 BONE,” suggesting limited genuine wallet engagement so far.
Meanwhile, Shibarium’s ecosystem continues advancing with Layer-3 initiatives Shib Alpha and Shib Claw (both in beta). SHIB was reported modestly higher around $0.00000609 (+6.01% over 24h). The key trading takeaway: apparent Shibarium weakness may be a reporting artifact, so wait for clearer confirmation of real user demand before drawing strong conclusions from on-chain volume.
Neutral
The reported 85% drop in Shibarium daily transactions is attributed to explorer/indexing disruptions from upgrades (server migration, full re-indexing, Shibariumscan rebuild). This makes the on-chain volume signal noisy, reducing the reliability of using transaction counts as a near-term demand indicator for SHIB. Bot-driven contract calls and “Value 0 BONE” labels further suggest the decline may reflect reduced measurable wallet activity rather than sustained network shutdown. Since development (Shib Alpha, Shib Claw) continues and SHIB price remained modestly positive, the net effect on SHIB appears mixed—more likely a short-term data-interpretation issue than a clear bullish or bearish catalyst.